Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against Orderly−0.013%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKY_USDC_mythos	0.06946	0.0100	pay 0.0050% / 4h	2h 28m	$1K	$3K	10x
Short	GMX SKY/USD [ETH-USDC]	0.06945	L +0.0524% / S −0.0248%	get 0.0031% / 1h	28m 02s	$82K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee GMXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $31.01
Price spread: −0.013% → 0.000%: −$1.3
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.71
Costs to cover: 0.180%
Break-even: 4.4 days

Slippage unknown: Orderly: no order-book sample; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SKY on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKY	−0.0453%	4h	0.06927	−0.266%	$185K	$126K	—	as long as short
Bybit SKYUSDT	+0.0017%	4h	0.06940	−0.085%	$7.4M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.255%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06946	0.000%	$182K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06931	−0.218%	$69K	$28K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06956	+0.150%	$2.9M	$916K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06948	+0.033%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06952	+0.088%	$15.9M	$11.1M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06945	−0.013%	$830K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06936	−0.143%	$596K	$282K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06953	+0.102%	$1.1M	$278K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06946	+0.001%	$414K	$295K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06950	+0.059%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06941	−0.071%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06936	−0.143%	$28K	$678K	50x	as long as short
Orderly PERP_SKY_USDC_mythoslong	+0.0100%	4h	0.06946	long leg	$1K	$3K	10x
GMX SKY/USD [ETH-USDC]short	L +0.0524% / S −0.0248%	1h	0.06945	−0.013%	$82K	—	50x